NIKE (NYSE:NKE) Shares Down 0.2% - Should You Sell?

NIKE, Inc. (NYSE:NKE - Get Free Report) fell 0.2% during trading on Wednesday . The stock traded as low as $52.80 and last traded at $53.17. 9,231,418 shares were traded during mid-day trading, a decline of 32% from the average session volume of 13,647,384 shares. The stock had previously closed at $53.27.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. Needham & Company LLC reduced their price target on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Wells Fargo & Company lowered their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group restated a "market perform" rating and set a $80.00 price objective on shares of NIKE in a research note on Monday, March 17th. Finally, Piper Sandler decreased their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday. Sixteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.15.

NIKE Stock Performance

The stock has a market cap of $81.11 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $69.31 and a 200 day simple moving average of $74.45.

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NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter last year, the business earned $0.98 earnings per share. NIKE's revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.92%. NIKE's dividend payout ratio is currently 53.16%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tran Capital Management L.P. increased its holdings in shares of NIKE by 2.7% during the first quarter. Tran Capital Management L.P. now owns 99,802 shares of the footwear maker's stock worth $6,335,000 after buying an additional 2,641 shares in the last quarter. Sterling Investment Management LLC acquired a new position in NIKE in the 1st quarter worth about $4,054,000. Simon Quick Advisors LLC raised its position in NIKE by 21.0% in the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker's stock valued at $253,000 after purchasing an additional 691 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of NIKE by 21.8% during the first quarter. Laurel Wealth Advisors LLC now owns 41,544 shares of the footwear maker's stock valued at $2,637,000 after purchasing an additional 7,429 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its holdings in shares of NIKE by 23.1% during the first quarter. Alhambra Investment Management LLC now owns 5,973 shares of the footwear maker's stock worth $379,000 after purchasing an additional 1,121 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.